About your Search

20121229
20121229
Search Results 0 to 2 of about 3 (some duplicates have been removed)
at the international monetary fund, annie lowry an economic policy reporter for "the new york times." steven moore, editorial writer for "the wall street journal." ken, you tear financial crisis guru here. forget the politics. just give us the math. if washington fails to avert the cliff, the worst-case scenario will be the combination of tax hikes and spending cuts. what does that do to our economy? >> well, if they don't come to a deal and then sit there all next year and don't come to a deal, we will go back into recession. it will be very, very ugly. and the united states is one of the few bright spots in the world and it will be ugly to have the whole world go into recession. but i don't think that's likely. i think if we pass for a month then they'll eventually pass something. but it shows the dysfunction in washington of not being able to pass anything. by the way, ali, the debt ceiling's coming up. they're not agreeing on that. so even if they agree on this, then in a month or two they're going to be in the same position on the debt ceiling. >> and our debt ceiling actually comes to a head
. looks like we may go into january without a deal. >> stephen moore saying we're going off the cliff. we've got new details on the plan, the president's scaled-down proposal. here's what's on the table. extend the current tax rates for 98% of americans, incomes up to $250,000. extend unemployment benefits, that's an important point. not being talked about enough. extending the alternative minimum tax patch. prevents cuts in payments to doctors who treatment medicare payments. -- patients. would this scaled-down proposal save us from economic disaster? >> we've done a tremendous amount of damage to ourselves, embarrassing ourselves around the world. we're assuring investors we're as risky as standard & poor's thought we were when they reduced our credit rating. it would be great if we could avoid sharp credit risks. restoring the unemployment insurance benefits is really important because you have millions of people who are depending on this for income. and they're going to spend that money if you give it to them and that's what the economy needs. >> absolutely right. >> wait, hold on. le
Search Results 0 to 2 of about 3 (some duplicates have been removed)

Terms of Use (10 Mar 2001)